July 28, 2009
July 28, 2009, Vancouver, BC - Taseko Mines Limited (TSX: TKO; NYSE AMEX: TGB) (“Taseko” or the “Company”) is pleased to provide the following update on its Prosperity Gold-Copper project.
The Prosperity Project is currently undergoing both a provincial and federal Environmental Assessment process. The Government of British Columbia process, being conducted by the Provincial Environmental Assessment Office, is expected to conclude by the end of October 2009. The Government of Canada process, a Federal Review Panel coordinated by the Canadian Environmental Assessment Agency, is expected to be completed in early 2010.
Russell Hallbauer, President and CEO of Taseko says, “Taseko has put forward an innovative and comprehensive fish and fish habitat management plan to compensate for the impact the project will have on the 111 hectare Fish Lake. Last week, on July 22, 2009, the Canadian Government’s Federal Department of Fisheries and Oceans (DFO) provided clarification on its evaluation of the compensation plan, advising that DFO will be guided by the fisheries objectives set by the Province of British Columbia, which is responsible for managing the fisheries resource affected by the development project. This clarification is an important step and consistent with the efforts both governments have been making over many years to achieve greater harmonization on such matters.
With both regulatory review processes continuing to move forward, the Company anticipates being in a position to make a decision on building the project in March of 2010.”
Several First Nations, including those in closest proximity to the project, are participating fully in the Federal Review process.
Those interested in tracking the progress of the regulatory process can do so at the website for the Canadian Environmental Assessment Agency Registry for the Prosperity Gold-Copper Mine Project: http://www.ceaa-acee.gc.ca/050/details-eng.cfm?cear_id=44811 where all federal-related documents and information are posted and at the Environmental Assessment Office website http://a100.gov.bc.ca/appsdata/epic/html/deploy/epic_project_home_6.html for all documents and information relating to the provincial review process.
For further information on Taseko, please see the Company’s website www.tasekomines.com or contact:
Brian Bergot, Investor Relations - 778-373-4545, toll free 1-800-667-2114
Russell Hallbauer
President and CEO
No regulatory authority has approved or disapproved of the information contained in this news release.
This document contains “forward-looking statements” that were based on Taseko’s expectations, estimates and projections as of the dates as of which those statements were made. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “outlook”, “anticipate”, “project”, “target”, “believe”, “estimate”, “expect”, “intend”, “should” and similar expressions.
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. These included but are not limited to:
For further information on Taseko, investors should review the Company’s annual Form 40-F filing with the United States Securities and Exchange Commission www.sec.gov and home jurisdiction filings that are available at www.sedar.com.